THE BUTTER MARKET

Evening Star, Issue 18158, 26 December 1922, Page 6

THE BUTTER MARKET

SHORTAGE IN U.S.A. BIG PURCHASE OP HEW ZEALAND ARTICLE. Presj Association—-By Telegraph—Copyright. NEW YORK, December 23. It is understood Drat the Emerson Company has purchased 100,000 cases of New Zealand butter for American consumption, the price approximating £500,000, of which £260,000 was paid to-day by cable consignment through Baring Brothers’ London bank. One hundred and twenty thousand cases are being loaded by the steamer Tekoa at Auckland. I‘orty thousand cases will be shipped in January and 30,000 in February. It is understood that the Emerson Company, which supplies grocers, has already arranged for the distribution of the butter on the New York market for sale in the grocery chain stores. It is expected that the purchase will realise a profit up to 600,000 dollars, since there is said to bo at present a shortage of more than 19,000,0001 b. of domestic butter, and the local butter supply will approach exhaustion just when the isew Zealand butter begins to arrive.—A. and N.Z. Cable.